The AB&P journal
Useful answers for the decisions owners make every week.
Clear guidance on the financial, payroll, and people questions that tend to become urgent when no one explains them early.
News · 2 min read ·
Are You Taking Advantage of Penalty Abatement?
Here’s some good news for taxpayers with three or more consecutive years of great compliance history: if you had a clean tax record prior to recent penalties, you can apply to have those fees waved through the First-T…
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Taxes · 2 min read ·
Understanding Offer in Compromise (OIC)
It’s a scary thing: to realize you owe more taxes than you can possibly pay off. But before you panic, did you know that the IRS has a policy to assist in just such cases, outside of a loan or payment plan? Known as a…
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Taxes · 2 min read ·
Watch Out for This New Tax Refund Scam!
We’re now in the middle of tax season, and with it the IRS has released a warning about a new scam that targets tax professionals, files fake returns, and has taxpayers sending refund money straight into the scammer’s…
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Taxes · 3 min read ·
2018 Estimated Income Tax Refund Dates
Are you expecting a tax refund for 2017? The IRS started processing returns on January 29. If you're one of the millions of Americans who are asking, "When can I expect my income tax refund?" we have the answer. It de…
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Taxes · 4 min read ·
How To Fill Out 1099-Misc Forms
In the last post, I discussed the exceptions to the 1099 rules. If you missed the post, you can read it here. Today I'm going to explain how to properly fill out the forms required by the IRS. There is a lot of inform…
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Taxes · 2 min read ·
Recent CA Fires and Property Tax Relief
Are you a resident of California affected by the recent fires? There have been emergency proclamations in the counties of Santa Barbara, San Diego, Los Angeles, and Ventura. The state of emergency has caused building…
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Taxes · 3 min read ·
Deductibility Guidelines for Charitable Donations
Do you enjoy making donations to charities and having the benefit of a tax write-off for your contribution? It's important to understand the tax provisions that apply to these donations, especially contributions of cl…
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Taxes · 2 min read ·
2017 Federal FUTA Credit Reduction Rates Announced
Are you an employer who must take into consideration the credit reduction when filing your FUTA tax return for 2017? A state is a credit reduction state if it has taken loans from the federal government to meet its st…
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Taxes · 2 min read ·
10 Big Tax and Accounting Issues
Entrepreneurs usually aren't surprised by the amount of work it takes to get a business up and running and become successful. But these same small business owners are often blindsided by the time and effort required f…
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Taxes · 2 min read ·
ACA: IRS Releases 2017 Reporting Forms
Are you up to date with your knowledge on your company's reporting requirements? An article shared by CalChamber informs employers about the 2017 Affordable Care Act (ACA) tax reporting forms and instructions. With no…
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Taxes · 4 min read ·
A Radical Proposal for Fighting Tax-Related ID Theft
Are you concerned about your tax information being stolen? A recent article from TaxProToday.com, written by Roger Russell, brought to our attention how a new idea could help cut down on tax-related ID theft and prote…
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Taxes · 2 min read ·
Home Office Deduction: Which Method to Use?
Are you an entrepreneur using a home office? Are you aware there are two different ways to take the deduction for the use of your home for business purposes? Determining which is right for you is the topic of today's…
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